New South Wales Puts $80 Million on the Table to Spark Next Startup Boom

Sydney’s burgeoning Tech Central will receive a $38.5 million boost.

Sheep graze in front of wind turbines in Lake George on the outskirts of Canberra, Australia, on Sep. 1, 2020. David Gray/Getty Images

Facing sluggish productivity growth, the New South Wales (NSW) Labor government is attempting to galvanise more investment in Australia’s most populous state with an $80 million pledge for “innovation funding.”

The funding package, part of the 2025–26 state budget to be delivered on June 23, is aimed at sparking further growth in startups and tech firms.